After seven months as general manager of the National Finance Corporation (CFN), Eduardo Salgado submitted his resignation from the position on February 9. His position is temporarily filled by Virna Rossi, who before Salgado’s resignation was the manager of the CFN’s Business Unit.
Salgado, who before coming to the CFN was vice president of Personal and Corporate Banking at Citibank and general manager of the Fundación Terminal Terrestre de Guayaquil, exposed in recent months the delicate financial situation of the institution.
Among the reported irregularities are the alleged mismanagement in terms of criteria for granting loans from past administrations, according to Salgado himself in interviews with Diario EL UNIVERSO.
Eduardo Salgado: ‘I have been working in banking for a few years and I have never seen what happens here (at the CFN) with clients’
The former official showed the results of an audit carried out by Deloitte in which 80% of the institution’s portfolio was reviewed.
He pointed out that this report (as of September 2021) served to make the largest loan loss portfolio provision in the history of the CFN, some $600 million of provisions; while in 15 years, past administrations only amassed $300 million of provisions.
It also revealed that there are 977 coercive processes in Guayaquil for an amount of $278 million, in Quito 227 processes for $171.2 million. In total, 1,204 processes with $449.1 million.
Another problem denounced by Salgado was the alleged irregularities in the dation in payments that the debtors of the CFN intended to make to the entity to settle their debts.
The former official assured that the CFN was forced through the judicial system to receive “overvalued” assets and that in some cases they were not even within the guarantees of the loan granted. According to Salgado, the CFN received in past administrations around $100 million in goods of this type.
Eduardo Salgado: Here there has been a custom of violating the rights of the CFN because it belongs to the State and the State must receive what it wants
“My life is long and I have never seen (this) in banking, or anywhere, and that this continues to be allowed by justice and the country is the last straw, this has to stop, I have told the president of the Republic, I have told the CFN directorate, in this you have to be brave and say things, ”said Salgado in the last interview with EL UNIVERSO.
From the CFN it was reported that after the resignation presented by Salgado to the Board of the entity, last week, a process began to appoint the new manager, which includes the proposal to the Board of names of candidates for the position.
After the acceptance of the Board of Directors, the Superintendence of Banks must qualify the suitability of the applicant. Meanwhile, last week the qualification process was carried out to appoint the manager in charge. (I)
Source: Eluniverso
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